Charge the Criminals, Not the Companies

Regulation is best delivered by setting clear, broad rules and punishing those who break them.

By

Eamonn Butler

Updated July 16, 2012 7:35 p.m. ET

London

More readers of this newspaper should be in jail.

In the latest turn in the Libor scandal, it's beginning to look like all the banks were involved but London regulators took no action, despite having been alerted by the Federal Reserve Bank of New York and the London press as long ago as 2008.